Bitcoin 11% Away From Falling Below Strategy’s Average Buying Price, But Michael Saylor’s Confidence In Apex Crypto Remains Intact

Strategy Inc. (NASDAQ:MSTR) risked incurring unrealized losses on its Bitcoin (CRYPTO: BTC) purchases, yet co-founder Michael Saylor remains bullish on the apex cryptocurrency.

What Happened: Strategy has acquired a total of 528,185 BTCs at an average cost price of $67,458, according to a Tuesday X post by blockchain analytics firm Arkham. The total market value of its stockpile was $40.16 billion, marking a 13% floating profit.

However, Bitcoin was trading at a little over $76,000 as of this writing, meaning that an 11% downside move could flip the firm’s unrealized gains into unrealized losses.

Full story available on Benzinga.com